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NEWS RELEASE TRANSMITTED BY Marketwire

FOR: PAN ORIENT ENERGY CORP.

TSX VENTURE SYMBOL: POE - | View Quote |  View Chart |  View Financials | 

Pan Orient Grants Stock Options

May 05, 2006 - 19:32 ET

CALGARY, ALBERTA--(CCNMatthews - May 5, 2006) -

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Pan Orient Energy Corp. (TSX VENTURE:POE) granted a total of 625,000 options to purchase common shares for a five year term under the Company's stock option plan on May 5, 2006, to certain of its directors and officers at an exercise price of $3.90 per share. The grant of the options is consistent with the objective of providing long-term incentives to key personnel of the Company, and continuing to align their interest with that of shareholders.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information. Actual future results may differ materially from those contemplated.

35,681,973 common shares issued

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Pan Orient Energy Corp.
Jeff Chisholm
President and CEO
(403) 294-1770

or

Pan Orient Energy Corp.
Jason Bednar
Vice President Finance and CFO
(403) 294-1770
Email: jason@panorient.ca